Clarks Hill, South Carolina Property Taxes
The median property tax rate in Clarks Hill, SC is 0.54%, considerably lower than both the national median of 0.99% and the South Carolina state median of 0.72%. With the median home value in Clarks Hill at $152,140, the typical annual property tax bill reaches $767, well below the national median of $2,690. Property taxes in Clarks Hill are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Clarks Hill's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Clarks Hill or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Clarks Hill, South Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.54%
Estimate Property Tax Bill
$822
Ownwell’s Clarks Hill Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Clarks Hill with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clarks Hill to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Clarks Hill, South Carolina
Property taxes in Clarks Hill, South Carolina, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Clarks Hill is 0.54%, lower than both the South Carolina state median and the U.S. national median of 0.99%. Local government entities within Clarks Hill set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clarks Hill estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Clarks Hill's effective property tax rate to other counties in South Carolina and the national median. For comparison, the 29821 zip code has the highest median property tax rate of 0.54%, while the same zip code also has the lowest median tax rate of 0.54%. Understanding how these cities compare with Clarks Hill provides valuable insights into the varying tax landscape across Edgefield County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Clarks Hill Tax Rate
0.54%
Average Edgefield County Tax Rate
0.56%
Average South Carolina Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clarks Hill, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29821 | 0.23% | 0.41% | 0.54% | 0.59% | 1.39% |
Source: Ownwell
Property Tax Assessment Values Across Clarks Hill, South Carolina
In Clarks Hill, South Carolina, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Edgefield County Assessor for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Clarks Hill, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Clarks Hill helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $767 in the 29821 zip code, while the lowest is also $767 in the same zip code.
Property Tax Assessment Values Across Clarks Hill, South Carolina
Source: Ownwell
$6,902
$79,521
$152,140
Average Clarks Hill Assessed Value
$152,140
Average Edgefield County Assessed Value
$82,866
Average South Carolina Assessed Value
$140,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Clarks Hill, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29821 | $14,732 | $58,331 | $152,140 | $232,770 | $343,326 |
Source: Ownwell
Property Tax Bills Across Clarks Hill, South Carolina
In Clarks Hill, SC, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For example, if the median home price is $152,140, the assessed value would be a fraction of this figure, determined by local assessment ratios. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. Several factors influence the final tax amount, including the property's location within Edgefield County, any applicable exemptions, and local tax levies. Homeowners in Clarks Hill can expect tax bills that range significantly; the 25th percentile tax bill is around $335, while the 75th percentile reaches $1,186, and the 90th percentile can be as high as $1,730. These property taxes are essential for funding local services such as schools, public safety, and infrastructure, directly impacting the community's quality of life. Homeowners must budget for these taxes, as they are a crucial part of homeownership costs in the region.
Average Clarks Hill Tax Bill
$767
Average Edgefield County Tax Bill
$555
Average South Carolina Tax Bill
$1,086
Average United States Tax Bill
$2,690
Property Tax Bills Across Clarks Hill, South Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 29821 | $110 | $335 | $767 | $1,186 | $1,730 |
Source: Ownwell